After 14 years, the Austrian Federal Forests ÖBf are selling their 25.1%-stake in Mayr-Melnhof Holz (MM Holz), Leoben/AT, to MM Timber majority owner Franz Mayr-Melnhof Saurau Industrial Holding. The parties have agreed not to disclose the price, the ÖBf have announced on Wednesday.
The original goals of the partnership, primarily that of the supply of raw materials, have somewhat lost their significance, the ÖBf said. This can be seen in varying paths of development the two companies have taken over the past years. "Operational cooperation in the field of raw material supplies is continued regardless of the share transfer", the Federal Forests emphasize in a press release.
The Franz Mayr-Melnhof Saurau industrial holding company, which had previously held 74.9% of the shares in MM Holz, will from now on be 100%-owner again. ÖBf’s exit will take effect in the current financial year.
The original goals of the partnership, primarily that of the supply of raw materials, have somewhat lost their significance, the ÖBf said. This can be seen in varying paths of development the two companies have taken over the past years. "Operational cooperation in the field of raw material supplies is continued regardless of the share transfer", the Federal Forests emphasize in a press release.
The Franz Mayr-Melnhof Saurau industrial holding company, which had previously held 74.9% of the shares in MM Holz, will from now on be 100%-owner again. ÖBf’s exit will take effect in the current financial year.